Obama’s Regulatory Czar To Resign…Leaving Us With 1,000’s Of New Regulations To Strangle Business Owners With

Cass Sunstein, administrator of the powerful Office of Information and Regulatory Affairs in the White House Office of Management and Budget, will return later this month to his previous post at Harvard Law School, the White House will announce Friday.

Obama said of Sunstein:

“For the last three and a half years, Cass Sunstein has helped drive a series of historic accomplishments on behalf of the American people.”

The Obama team has launched the greatest regulatory barrage in history. It just hasn’t taken effect — yet. I won’t even take up the red ink and red tape involved in Obamacare. Just take one other example: the Dodd-Frank Wall Street Reform and Consumer Protection Act (called by IBD the Dodd-Frankenstein Bill).

The sweeping law requires more than 400 separate rulemakings that may not be fully implemented for several years. It is such a regulatory nightmare that no agency is able even to come up with its final cost to the economy. One estimate has it that it has already cost the financial industry ~900 billion. The cost each year to the economy? Upwards of a trillion? The very fact that no agency, government or private, can come up with a reliable figure says it all. But not all is bad. The regulatory onslaught is a boon for compliance lawyers and government regulators, whose ranks will swell by 2,849 new positions, according to the GAO.

The law also created perhaps the most powerful regulatory agency ever established – the Consumer Financial Protection Bureau. It has the power to regulate, free of congressional oversight even over its budget, every consumer financial transaction and then some. And, as the IBD article (7/24) points out, it is in large part a civil rights agency with special provisions for minorities.

According to an analysis by the National Federation of Independent Business, more than 4,000 federal regulations are scheduled to be implemented over the next four years with a cost of more than $515 billion to the U.S. economy. In our world of trillion dollar deficits, anything in the billions may not sound like such a big deal anymore, but recent regulations have already added $140 billion, sending the total annual regulatory cost to $1.75 trillion. If no action is taken to stop this, the NFIB estimates that the regulatory costs will quadruple over the next four years.

So what in the world are all these new regulations? Well, most of them have to do with protecting the environment and the air we breathe. Unfortunately, the sheer cost of the regulations may produce a severe economic downturn, rather than any valuable environmental impact.

All these regulations do is to create reams of red tape. It prevents the job creators from creating jobs. Congressman Mike Kelly from Pennsylvania gave a great speech last week on the floor of the House describing that very thing:

We renovated a ball park in my home town, a guy named Tom Bernakowski (sp?), veteran. It cost a couple million dollars to renovate our ball park but the day we were going to open up I got a phone call at the dealership, he said ‘Mike would you come down’ I said ‘why what’s going on’ he said ‘we’re having trouble with the occupancy permit,’ so I went down to see what’s the problem and he said ‘come in the men’s room let me show you what the problem is’ I said ‘you know we have 1,500 people that want to come and see the ball game’ and he said ‘we got a major problem, you see the mirrors in the restroom are a quarter of an inch to low.’ ‘So you can’t possible open that ball park.’

So you want to know the price of regulation? You want to talk about the thousands and thousands of pages that we put on the backs of the job creators? You want to talk about creating jobs in America? You want to see a nation that doesn’t want to participate but wants to dominate in the world market…then let them rise, take the heavy boot off the throat of America’s job creators and LET THEM BREATH!

The July jobs report has just been released by the Bureau of Labor Statistics.

The U6 Underemployment Rate rose from 14.9% to 15.0%.

Non-farm payrolls (NFP) rose 163,000. But with over 12 million unemployed, that is still a small number compared to what is needed. It did beat expectations, however.

Now for the bad news (other than unemployment rates rising). In July, the number of part-time jobs added was 31,000 while the number of full-time jobs fell 228,000.

So, let me get this straight. The headline will be NFP rose 163k, while full-time jobs fell more (-228k).

Obamacare seems to be encouraging employers to add part-time rather than full-time jobs. Ah, regulations!

And not with regulatory czar’s like Cass Sunstein. We need fewer regulations. As Rep. King said so well, let our business owners breath, let them build and hire without the rolls and rolls of red tape. But as long as we have a President like Obama, and people like Sunstein, who believe that THEY know what’s best for Americans and they will damn well force us to do what they want via regulations…those job creators won’t be allowed to breath.

8 Responses to “Obama’s Regulatory Czar To Resign…Leaving Us With 1,000’s Of New Regulations To Strangle Business Owners With”

Mike O’Malley

Cass Sunstein is an interesting intellectual with notable views on the authority of the State as the origin, creator, guarantor and ultimate unguarantor of all civil and human rights paralleling the views of Mussolini.

All within the state, nothing outside the state, nothing against the state.
Benito Mussolini

Cass Sunstein is married to the odious Harvard professor Samantha Power, whom he had met when they both worked as advisors to the presidential campaign of Sunstein’s longtime friend and former University of Chicago Law School colleague, Barack Obama.

Anthony B. Sanders

Between Obamacare, Dodd-Frank, the EPA, etc., the economy is being regulated and wealth-transferred to death. Dodd-Frank is only 30% complete and it is already 8,800 pages long of rules and regulations! Good riddance to Cass the Ass!

ilovebeeswarzone

IT’S incredible to have those creeps imposing the AMERICANS, THOSE LAWS, AND OBAMA IS SPENDING BILLIONS TO PAY THEIR FEES FROM THE PEOPLES MONEY,
GET THEM OUT FOR GOOD IN NOVEMBER, THEY ARE THE WORSE HUMAN BEING AND HE STOLE THE PRESIDENCY, TO DO THAT HATEFUL JOB TO AMERICANS.